Fed Publishes New Standardized Framework for Understanding Payments Fraud
The Federal Reserve today published a new framework that banks and other payment providers can use to classify and understand...
Payments
ABA: Amid Pandemic, Banks Delivering Funds Quickly to Consumers, Businesses
Throughout the coronavirus pandemic, banks have driven “unprecedented speed and efficiency” in delivering COVID-19 relief, including the CARES Act Economic...
CFPB Provides Flexibility on Electronic Card Disclosures During Pandemic
The CFPB yesterday issued a statement providing temporary flexibility for credit card issuers when providing electronic versions of disclosures that...
IRS Reminds Consumers They May Receive EIPs Via Prepaid Debit Cards
The IRS today issued a reminder to consumers still awaiting their CARES Act economic impact payment that they may be...
ABA Joins Consumer, Banking Groups in Support for Bill to Prevent Garnishment of Economic Impact Payments
The American Bankers Association today joined with twelve consumer groups and banking industry organizations in supporting a bipartisan bill that...
CFPB to Offer Flexibility for Creditors Working to Resolve Billing Errors During Pandemic
The Consumer Financial Protection Bureau today said it would provide flexibility for creditors to resolve billing errors during the coronavirus...
CFPB Finalizes ABA-Advocated Changes to Remittance Rule
The Consumer Financial Protection Bureau today finalized several American Bankers Association-advocated changes to the remittance rule, including one that will...
IRS: 130M Economic Impact Payments Distributed to Americans
A total of 130 million Americans received economic impact payments totaling more than $200 billion within the first four weeks...
Credit Card Use Rises in Q4; More Customers Paid Off Balances in Full
As credit card use picked up in the fourth quarter of 2019, a record share of consumers paid off their...
IRS Updates FAQs to Address Payments to Deceased, Other Non-Eligible Recipients
The IRS has updated its FAQs on the CARES Act economic impact payments to reflect that the deceased (as well...
